From Babylon to Blockchains, auditors remain the premier provider of trust in society. The technology evolves. Our role does not. Enter the future with LedgerLens Proof of Reserves.
Proof of Reserves is a set of procedures whereby an exchange, custodian, token issuer, ETF issuer, or crypto fund demonstrates that they have enough assets in reserve to exceed customer liabilities.
Across Issuers, the Assets in Custody and the Liabilities to Customers differ:
| Issuer | Assets | Liabilities |
|---|---|---|
| Stablecoin | Fiat & Treasuries held in Banks | Tokens Issued on a Blockchain |
| Exchange | Digital Assets held in Custody | Customer Liabilities as Tracked on the Exchange's Database |
| Crypto ETF | Crypto held in Custody | ETF Shares Issued and Outstanding |
The methods for Proving Reserves vary by client, that’s why we built THREE Proof of Reserve Toolkits, all purpose-built for auditors
Use LedgerLens to provide real-time attestations for stablecoin issuers, ETFs and asset-backed token projects, as frequently as every 30 seconds.
Use LedgerLens to bring attested data on-chain for use in smart contracts, DeFi protocols, and more.
Don’t trust, verify. Yet major transparency gaps remain in the digital asset industry today despite the innovations in cryptography, blockchains, and decentralization. Auditors and Proof of Reserves fill these gaps.
The Audit Profession is at a crossroads. While the world digitizes and provides information in real-time, the Audit profession remains stagnant. The profession is bleeding talent and losing services to competitors.
Proof of Reserves provides an opportunity to provide value to the public, growth opportunities for audit practices and professionals, and a futuristic path to maintain their status as the “trust providers” of society as the world digitizes and migrates on chain.
While industry efforts for self-attestations are a step in the right direction, the fact of the matter is that regulators demand a 3rd-party auditor to confirm balances.
LedgerLens’ team of certified public accountants and blockchain experts are here for engagement support to get your practice off the ground.
Use LedgerLens’ personnel to staff and support your digital asset engagements
Leverage our team of experienced, certified public accountants to train and equip your team.
Access an expansive network of Digital Asset industry connections and knowledge sharing.
Nick is a CPA and quality control partner at The Network Firm, a Certified Public Accounting Firm domiciled in the US.
Nick is an advisory to the LedgerLens, and uses his experience as a Partner on crypto audits to influence the product roadmap for LedgerLens.
Nick was inspired to contribute to LedgerLens to provide auditors with the tools needed to navigate the unique challenges of crypto auditing, as he experienced the challenges of auditing crypto companies himself.
Nick holds certifications as a Certified Bitcoin Professional (CBP) and Certified Public Accountant (CPA) and is an active member of the Cryptocurrency Certification Consortium, Chamber of Digital Commerce, OSCPA, and AICPA.
Through LedgerLens, Nick continues to contribute to the advancement of transparent, reliable digital asset auditing.
Noah is the CEO of LedgerLens, a suite of crypto audit tools, with over 15 years of experience in audit, IT audit, and regulatory compliance, specializing in digital assets since 2016.
During his time as an IT auditor in public accounting, Noah tackled the challenges of auditing crypto companies—running nodes, extracting blockchain balances, and verifying customer ownership. While he developed solutions within a Top 20 accounting firm, he saw that most auditors lacked these resources, creating barriers to servicing the growing crypto industry.
This realization inspired Noah to create LedgerLens, empowering auditors with the tools needed to serve the crypto space effectively. Having worked with hundreds of digital asset clients, Noah uses his expertise to address key crypto auditing challenges.
Along with creating LedgerLens, Noah contributes to the future of the profession by serving on the AICPA’s Digital Assets Working Group and leading The Digital Chamber’s Accounting Taskforce.
Through LedgerLens, Noah continues to drive innovation and trust in digital asset assurance.
